Apollomics Inc. (Nasdaq: APLM) has entered into definitive subscription agreements for a private placement of up to 700,001 Class A ordinary shares at an aggregate gross consideration of approximately $10.0 million, the late-stage oncology biopharmaceutical company announced August 11, 2026 on Globe Newswire.
The deal is structured in two tranches. The cash tranche covers 533,334 Class A shares priced at $15.00 per share, generating approximately $8.0 million in gross cash proceeds, with participation from unaffiliated accredited investors as well as several of the company's executive officers and directors or their affiliates. The second tranche is a note conversion: a $2.0 million principal amount unsecured Convertible Promissory Note, originally dated March 30, 2026 and held by Chairman and CEO Hung-Wen (Howard) Chen, automatically converts into 166,667 Class A shares at $12.00 per share — a price representing 80% of what cash investors are paying. Together, the two tranches account for the up to 700,001 shares to be issued.
Closing is expected on or about August 14, 2026, subject to customary closing conditions. The shares have not been registered under the Securities Act of 1933 and are being issued in reliance on the Section 4(a)(2) exemption and/or Rule 506 of Regulation D, per the company's August 11, 2026 announcement on Globe Newswire.
Chen's position in the company is substantial. According to an amended Schedule 13D/A filed with the SEC and reported by StockTitan, Chen together with his wholly owned entity King Regent Management Limited beneficially owns 901,362 Class A ordinary shares, representing 41.8% of the class. His note conversion at a 20% discount to the cash investor price reflects the $12.00 conversion price set at 80% of the $15.00 cash tranche price, per the August 11 announcement. The note's automatic conversion clause was triggered by this transaction reaching the $10.0 million threshold.
For context on pricing, Apollomics closed a prior PIPE in September 2025 in which purchasers acquired 1.04 million Class A ordinary shares at $3.9317 per share — the closing price on August 29, 2025 — generating $4.1 million in gross proceeds, per the company's investor relations site. The August 2026 cash tranche is priced at $15.00 per share, compared with $3.9317 per share in that September 2025 transaction. The announcement does not provide a company-attributed explanation for the difference.
Apollomics describes itself as a late-stage clinical biopharmaceutical company developing multiple oncology drug candidates targeting difficult-to-treat and treatment-resistant cancers, per the August 11, 2026 Globe Newswire announcement. No current cash balance or balance sheet figures were available from accessible filings at the time of publication.
No executive statement accompanied the August 11 announcement. The next disclosed milestone is the expected closing on or about August 14, 2026.